The price war continues as three more lenders reduce their rates. Nationwide, Virgin Money and Precise Mortgages have all cut rates as they try to lure customers to their attractive propositions. This is really great news for the end customer as there are some very attractive and competitive rates out there in the run […]
Category: Blogs
Try to not give lenders any excuses to decline your application
Getting a mortgage application through a lender in the current climate can be challenging. One day it appears relatively easy, yet the next, it’s a nightmare! So whatever you do, try to not give lenders any excuses to decline your application or refuse to lend to you. Try to pay bills on time, don’t miss […]
Anyone selling mortgages must be qualified!
After several years of consultations, panic by various areas of the market and the odd debate here and there, the Financial Services Authority (FSA) have issued their final policy rules following their Mortgage Market Review (MMR). Some might argue this is badly timed with the market still in dire retraction from the crashes of 07/08 […]
Low rates, high fees?
The old saying goes ‘don’t believe everything you read’ (apart from this column of course!). There’s a lot of very good marketing and PR taking place in the mortgage market as lenders try to increase business volumes and attract new customers in the last quarter of the year. But are things as the headline suggests? […]
The valuation is for the lender, not you!
Some weeks there is just too much news to take in and it can be difficult to assimilate and report on. Then there are quiet weeks where nothing much seems to happen. This week has been the latter and the mortgage market has been quieter than normal. So, what to discuss? Well, it all went Wonga […]
Interest Only takes another blow
Over the last few months I’ve mentioned Interest Only quite a bit. Interest Only is one option to pay your mortgage, but it does exactly as it says, you only pay the interest on the loan. So at the end of the term, say 25 years, you still owe exactly what you started with. Normally […]
Positive activity in the mortgage market
Only a few days into the final quarter of the year and we’re already seeing lenders lowing rates to attract new business. Woolwich have cut some rates by up to 0.2% and Abbey for Intermediaries have reduced various fixed rates across the range, both following numerous lender changes last week. Accord Mortgages have also launched […]
What if ‘the computer says No’?
A flurry of activity in the mortgage market this week as a number of lenders reduce their rates. Virgin Money, Natwest, Accord Mortgages and Platform are a few of the lenders who have cut various rates in their product offerings. This follows decreases in both LIBOR and SWAP rates (in the main, measures against which […]
Much has changed since 2007…
Someone said to me this week its five years since Northern Rock crashed the ‘mortgage boom’ party and to be honest, I did ponder on where those years have gone! Much has changed since 07 and lenders now appear to be run by their credit risk personnel, who in turn report to the Financial Services […]
Act quickly – once they’re gone, they’re gone!
The summer is over, the kids are back to school and the post holiday credit card statements are on their way! Ok, so a bit negative, but don’t panic when they arrive. Debt Management Plans and Payday loans look like an attractive solution and they will be right for some people, however most mortgage lenders […]